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Rebate amount for cooperatives enhanced

CHANDIGARH: The Haryana Government has decided to enhance the maximum amount of patronage rebate to be given to the cooperative marketing societies from Rs.2.5 lakh to Rs.4 lakh every year, State Financial Commissioner and Principal Secretary (Cooperation) Manik Sonawane said here on Thursday.

Addressing the delegates of cooperative marketing societies at the annual general meeting of Hafed, Mr. Sonawane said the federation had made unmatched progress during the past four years and its turnover had also increased manifold.

Share money

He disclosed that the share money of Hafed which was only Rs.23 lakh in 1968 had shot up to Rs.9.77 crore in 2007. Similarly the turnover had increased to Rs.3,095 crore during 2006-07 and it had also earned a profit of Rs.75.71 crore.

He said strenuous efforts were being made for strengthening the cooperative societies and it was heartening that their profit had increased from Rs.1.41 crore in 2004-05 to Rs.5.36 crore in 2006-07.

Quality management

Hafed had adopted the International Quality Management Standard (ISO-9001:2000) and the Food Safety Standard and it was the first institution in the cooperative sector which had received International Quality Management Standard certification for all its offices.